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Azincourt Energy Announces Closing of Private Placement

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 3, 2020) -  AZINCOURT ENERGY CORP. (TSXV: AAZ) ("Azincourt" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 1,500,000 Units ("Units") of the Company at a price of C$0.05 per Unit for gross proceeds of C$75,000 (the "Offering").

Each Unit is comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share until June 3, 2025 at a price of C$0.07 per common share.

In accordance with securities legislation, all securities issued under the Offering will be subject to a four month hold period expiring on October 4, 2020.

Azincourt will apply the gross proceeds of the Offering to advance the Company's projects and for general working capital purposes.

Final closing of this Offering is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.
"Alex Klenman"

Alex Klenman, President & CEO

Tel: 604-638-8063
info@azincourtenergy.com
www.azincourtenergy.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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